Mineralys Therapeutics (NASDAQ:MLYS) Shares Up 2.2% – Still a Buy?

Shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) were up 2.2% during mid-day trading on Monday . The company traded as high as $14.85 and last traded at $14.98. Approximately 87,485 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 350,983 shares. The stock had previously closed at $14.66.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group dropped their target price on shares of Mineralys Therapeutics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Mineralys Therapeutics in a report on Monday, March 10th. Finally, Guggenheim restated a “buy” rating on shares of Mineralys Therapeutics in a research note on Monday, February 24th.

Mineralys Therapeutics Stock Performance

The company’s 50 day moving average price is $11.49 and its 200-day moving average price is $12.21. The company has a market cap of $962.18 million, a PE ratio of -4.21 and a beta of 1.50.

Mineralys Therapeutics (NASDAQ:MLYS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.02. Equities research analysts expect that Mineralys Therapeutics, Inc. will post -4.23 EPS for the current year.

Insider Transactions at Mineralys Therapeutics

In related news, major shareholder Samsara Biocapital Gp, Llc purchased 600,000 shares of Mineralys Therapeutics stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $13.50 per share, for a total transaction of $8,100,000.00. Following the completion of the transaction, the insider now owns 5,674,916 shares in the company, valued at $76,611,366. This trade represents a 11.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam Scott Levy sold 10,757 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $9.10, for a total value of $97,888.70. Following the sale, the chief financial officer now owns 226,097 shares in the company, valued at approximately $2,057,482.70. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 33.24% of the company’s stock.

Hedge Funds Weigh In On Mineralys Therapeutics

A number of large investors have recently modified their holdings of MLYS. Franklin Resources Inc. lifted its stake in Mineralys Therapeutics by 17.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,745,513 shares of the company’s stock worth $21,138,000 after purchasing an additional 262,922 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Mineralys Therapeutics by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 1,432,042 shares of the company’s stock worth $17,628,000 after buying an additional 68,811 shares in the last quarter. Millennium Management LLC boosted its stake in Mineralys Therapeutics by 1,015.8% during the fourth quarter. Millennium Management LLC now owns 1,101,674 shares of the company’s stock valued at $13,562,000 after buying an additional 1,002,941 shares during the period. Jennison Associates LLC grew its position in Mineralys Therapeutics by 55.4% during the fourth quarter. Jennison Associates LLC now owns 1,082,006 shares of the company’s stock worth $13,319,000 after buying an additional 385,726 shares in the last quarter. Finally, Caligan Partners LP increased its stake in Mineralys Therapeutics by 3.1% in the 4th quarter. Caligan Partners LP now owns 1,011,155 shares of the company’s stock worth $12,447,000 after acquiring an additional 30,000 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Mineralys Therapeutics Company Profile

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone.